TopstepTrader and Patak Trading Partners- Any and all questions answered here

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Quote from Maverick74:

No, that is incorrect. If you have 5k in profits, you have to lose 7k, to go back to the combine. I can't believe 700 posts on this and you still are getting this wrong. This is the whole problem. They are letting you give back all your p&l before they take any out. That was the whole thesis to my suggestion. I think they should take out their 2k and send the trader his 3k and re-set the account the next month. Their whole 5k rule was that you personally can't withdraw anything till you get above that. They don't send you back down till you go 2k into THEIR money. Come on man, this model is not rocket science. Michael has stated this now 5 times on these threads.

The model is so brilliant you don't even understand it. LOL.
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I believe it was posted you get demoted back to combine if you hit double the max daily loss limit which is $500 x 2 on the 30k account Lose $1000 and you no longer are trading live. Where are you getting the lose 5k number from ?



2 x 3k for the 150k account ?



The only problem here is I bet 85-90% of the combine accounts are the 30k account so if only 10-15% are doing combine with bigger account and only 1-3% of them go live then




180 paying for combine




10% choosing 150k combine paying 400




So 18 people x 400 = 7200 profit to back the 1 person out of 18 who goes live.



7200 covers the $6000 risk given to the 1 live trader





This whole deal is set up to be risk pretty much risk free to the owner





You just don't get it
 
Quote from Maverick74:



Most of these "true futures prop firms" have a much tighter leash and control over you then TST.
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But aren't these true prop firms only paying 20-40% of your gross ?
 
Quote from volente_00:

I believe it was posted you get demoted back to combine if you hit double the max daily loss limit which is $500 x 2 on the 30k account Lose $1000 and you no longer are trading live. Where are you getting the lose 5k number from ?

2 x 3k for the 150k account ?

The only problem here is I bet 85-90% of the combine accounts are the 30k account so if only 10-15% are doing combine with bigger account and only 1-3% of them go live then

180 paying for combine

10% choosing 150k combine paying 400

So 18 people x 400 = 7200 profit to back the 1 person out of 18 who goes live.

7200 covers the $6000 risk given to the 1 live trade

You just don't get it
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Bet me! You are 100% wrong. Don't call me names. Just bet me. We'll have Don Bright hold the bet. How much do you want to wager? If I win the bet I'll give your money to charity. Michael has been very clear about this. Very clear. It's specifically why he mentioned that they had traders who were up 15k to 20k and gave back all their profits. How can you give back 20k in profits if they cut you off at 1k? Come on man, do the math. Get help if you have to. But let's put some money on this. If I have to listen to your shit I at least want to get paid for it.
 
Quote from marketsurfer:

Mav, is that office fee of $8k per month? Unreal, if so!
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Yes, per month. They claimed it was going into technology cost, legal cost, IT support, etc. And I actually believe them based on what I know about the firm. Their legal bills went into 7 figures every year. Someone has to pay for that.
 
I understand how things work in stocks & futures , been around the block a few times

I know you love to talk about all the real props shops in chicago, but this is not one of them , as most people realize

If your a profitable trader then you should expect to get the highest payout with the lowest commissions possible
no matter what you trade or what firm you trade with

Anytime you have risk captial at stake , skin in the game
Then someone should to negotiate a good deal

ptk is not a propreitary firm & offers limited benefits to anyone that can fund there own account & trade profitably

That is why all these new people , no matter where they go
get taken advantage , they don't know any better

This model that ptp is designed for new traders for the most part

When risking your own money once profitable & giving away 40 % of your profits with paying high commissions

this is a lousy deal for most traders with any common sense no matter what firm offers it

The bottomline for any profitable trader is to get the highest payout & lowest commission no matter what they trade or where is someone has a clue

if your new or just don't have the money this by all means this may be a ok deal for some

it's all personal choice , this is just another pie in the sky dream for most
 
Quote from TST_Hoag:



3. If a trader hits their daily loss limit after going live over 1 session or multiple sessions, what happens? And how do they get back to live trading? Say my loss limit is $500.. I'm cleared for live. I'm down $250 first day then $250 next day, would I be sent back to sim? If yes, how do I get back to live? How many days am I down?

Our traders are allowed to lose twice the amount of their daily loss limit (BELOW the initial balance). Therefore, if a trader is trading a $150K account, we are willing to risk $6K on them. If a trader hits his loss limit ($500-$3000) he would be sent back to the Combine. These requirements are only in place UNTIL an account cushion has been built ($5K for $30K and $50K accounts and $10K for $100K and $150K accounts). Once an account cushion has been built, virtually all expectations/requirements are lifted off the trader.

IF a trader’s performance is not living up to expectations, the trader is offered the opportunity to return to the Combine to continue to develop as a trader and work towards getting their live account back. If a funded trader is sent back to the Combine, meets the objectives set forth and is then taken back to funded trader status, they start with the account balance reset and the trader does NOT have to make up their losses. ALL losses beyond the initial account balance are absorbed by the Patak Trading Partners.
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Quote from hitnrun:

this is just another pie in the sky dream for most
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So is putting down a 2k deposit at some chop shop and think you are going to make millions. No laws against dreaming in this country.
 
Quote from Maverick74:

What specifically are you disagreeing with me on allowing traders to get paid at the end of each month. That is my "suggestion" to Patak. I think it works for both the trader and the investor to lock this in.
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Mav,

Actually, we ARE in agreement on this point. It was in my prior post, here is the excerpt below.


Quote from ScalperJoe:


Perhaps a solution to the 5k cushion requirement is to allow a trader with a 50k account who effectively uses the 5 lot buying power while showing proper risk management and discipline gets to take a check within one month of trading, regardless of total profit in the account.

As you said, it's definitely a confidence builder.
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